Tesla CEO Elon Musk announced on Thursday that the company will invest more than $10 billion in its new Gigafactory in Texas, which will employ tens of thousands of people.
“Giga Texas is a $10B+ investment over time, generating at least 20k direct & 100k indirect jobs,” Musk posted on Twitter.
His remark was in reaction to a civil rights lawyer’s Twitter thread alleging that Austin lawmakers offered the billionaire over $60 million in subsidies to relocate the factory to Texas, as reported by The Verge in July 2020.
According to Reuters and Electrek, Tesla filed construction documents with Texas regulators in November, indicating that the project will cost more than $1 billion.
According to Reuters, Tesla indicated in November filings that the Texas factory will create 10,000 jobs, which is half of what Musk tweeted on Thursday. According to Reuters, the majority of the positions would be low-skilled.
According to the records quoted by Reuters, Musk’s company is projected to get over $65 million in municipal tax rebates for the Gigafactory.
The 5 million-square-foot Gigafactory will produce Tesla’s Cybertruck, Semi truck, Model 3 and Y, as well as other vehicles.
According to a filing with the US Securities Exchange Corporation, the electric car firm formally transferred its headquarters from California to Texas in early December. Insider’s Dominick Reuter reported that it will debut this year.
To read our blog on Elon Musk’s Starlink wants to launch satellite broadband Internet services in Pakistan, click here.
